Maven Income & Growth VCT PLC Issue of Equity (2362S)
08 March 2019 - 4:50AM
UK Regulatory
TIDMMIG1
RNS Number : 2362S
Maven Income & Growth VCT PLC
07 March 2019
Maven Income and Growth VCT PLC (the Company)
Issue of Equity
On 26 September 2018, the Company launched an offer for
subscription for new ordinary shares of 10p each (Ordinary Shares)
to raise up to GBP15 million, with an over-allotment facility for
up to a further GBP5 million (the Offer). On 23 January 2019 the
Company announced that the Board of the Company had resolved to
exercise its discretion to utilise the over-allotment facility of
GBP5 million.
Pursuant to the Offer, a total of GBP20,000,000.00 of valid
applications were received up to 12 noon on 4 March 2019. In
respect of the 2018/19 tax year, GBP18,522,670 of valid
applications were received and, as a result, the Company has issued
and allotted 38,112,053 new Ordinary Shares on 6 March 2019. In
accordance with the allotment formula set out in the Prospectus for
the Offer, the offer prices at which the shares were issued were in
the range of 47.76p to 49.04p per Ordinary Share and, as a result,
the number of Ordinary Shares now in issue is 90,975,937.
Therefore, the total number of voting rights in the Company is
90,975,937.
In respect of this allotment, an application will be made by the
Company to the UK Listing Authority and to the London Stock
Exchange for the new Ordinary Shares so issued to be admitted to
the Official List and to trading on the London Stock Exchange's
main market for listed securities. It is expected that the
admission of the new Ordinary Shares will become effective and
dealings will commence on or around 13 March 2019.
The above statement of Voting Capital may be used by
Shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest, or a
change to their interest, in the Company under the FCA's Disclosure
Guidance and Transparency Rules.
The Board of the Company confirms that, as the over-allotment
facility has now been utilised in full, the Offer has closed fully
subscribed. The Board intends that a final allotment in respect of
applications for the 2019/2020 tax year will take place on or
before 26 April 2019.
For further information, please contact:
Maven Capital Partners UK LLP
Telephone: 0141 306 7400
E-mail: enquiries@mavencp.com
Maven Capital Partners UK LLP
Company Secretary
7 March 2019
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END
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